May 11, 2026/CSL Report Financial Highlights: Revenue: +29.5% y/y to US$6.4bn Direct Network Operating Costs: +21.5% y/y to US$1.2bn OPEX: +22.3% y/y to US$2.1bn EBITDA +38.2% y/y to US$3.2bn Operating Profit: +45.2% y/y to US$2.1bn Profit before Tax: +114.7% y/y to US$1.4bn Stock Rating: Buy Target Price: N4,096.2/s Airtel Africa […]
Results & Dividends
Nestle Nigeria Plc Q1-26 Update: Strong Cost Dynamics to Anchor Earnings Resilience
May 11, 2026/Cordros Report We update our outlook on Nestle Nigeria Plc (NESTLE) for 2026E following the release of its Q1-26 unaudited results. Earnings performance was driven by revenue growth (+10.6% y/y) and a sharp decline in net finance costs (-92.8% y/y) amid. The sharp decline in net finance costs […]
MTN Nigeria: Volume-Driven Growth and Financial De-Risking Reinforce Long-Term Bullish Case
May 8, 2026/InvestmentOne Report MTN Nigeria posted a robust top-line performance in Q1:2026, with total service revenue increasing to NGN1.49trn (+41.80% YoY). Importantly, this growth reflects volume-driven momentum rather than a pricing-driven base effect as the tariff adjustments implemented in mid-Q1 2025 are no longer in the current period, making […]
